Nigeria’s Public Debt Climbs to N159.28 Trillion on Rising Domestic Borrowing Pressure

Nigeria’s total public debt increased to N159.28 trillion by the end of the year, according to data released by the Debt Management Office, reflecting continued growth driven largely by domestic borrowing.

The figures show that the debt stock rose from N153.29 trillion recorded in the previous quarter, representing an increase of N5.98 trillion.

In dollar terms, the country’s total debt also expanded, reaching $110.97 billion within the same period.

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On a year-on-year basis, the increase remains substantial, highlighting ongoing fiscal pressures and the government’s reliance on borrowing to meet its obligations.

Domestic debt continued to account for the largest share of the total, making up more than half of the overall debt profile.

It recorded increases both on a quarterly and annual basis, underscoring the government’s sustained dependence on the local debt market.

The Federal Government held the majority of domestic debt, while states and the Federal Capital Territory accounted for a smaller portion.

External debt also rose, although at a more moderate pace, and still represents a significant component of the country’s overall debt structure.

The Federal Government again dominated this segment, with subnational governments contributing a lesser share.

Overall, the data points to a steady upward trend in Nigeria’s debt levels, raising concerns around fiscal sustainability and reinforcing the need for improved revenue generation and prudent financial management.